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Parity Uses Old Cell Phones for Crypto Storage as Hardware Wallet Diversity Broadens

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Parity introduces a New Parity Signer v3.0 Beta that turns old cell phones into offline cryptocurrency wallets. This initiative has seen the blockchain infrastructure company join other developers in inventing blockchain hardware wallets.

Parity announced on its website on October 2 that Parity Signer Software is compatible with iOS and Android mobile phones. It is designed to be used on a dedicated hardware platform that should be kept offline at all times after installation.

Features of Parity Signer

Parity Signer will enable users to generate or restore both Kusama and Ethereum accounts and sign transactions safely and entirely offline. Parity’s open-source offline design system offers maximum security to both Kusama and Ethereum accounts.

Parity supports Kusama CC2 network as Front-end Developer at Parity Technologies Thibaut Sardan, stated: 

“You can use parity signer with Polkadot-js-apps and Polkadot-js-extensions. Bond funds to validate or nominate, transfer funds, or vote for governance proposals by signing with your offline device.”

Parity Signer now supports the universal offline signatures standard that was created for efficient data transmission via QR codes. 

The software also features UX improvements that will offer better visualization of addresses on a small screen and faster generation of identicon. Additional interface aesthetics include unified font and improved button color.

Parity Signer Offline Security Feature

Parity Signer will be secure as long as the dedicated software does not connect to any network, or to any other devices that have access to the internet. Once the software has been installed, the phone should be put permanently into flight mode.

Any software upgrades that would require the phone to reconnect to the internet should be done after uninstalling parity software complete from the gadget.

The Diversity of Crypto Hardware Wallets

The emergence of hardware wallets was necessitated by the need to find a completely secure way to store private keys in a secure device. Blockchain developers have been experimenting with the capabilities of this exciting tech. 

Recently they have been coming up with hardware wallets that are diverse in developer design, but all serve one function, to secure private keys. Some of the hardware wallets in the market today include:

  • Ledger Nano S, a compact USB device based on smart technology. It was developed by the French company Ledger and supported Bitcoin, Ripple, Binance, Cardano, Ethereum, among other cryptocurrency wallets.
  • Ledger Nano X, the best hardware wallet in the market, uses two chips to achieve superior security. Nano X can hold multiple cryptocurrencies at once, unlike Nano S. 
  • Trezor hardware wallet was the first secure wallet built for Bitcoin by the SatoshiLabs and a pioneer of hardware wallets, just like Bitcoin with cryptocurrencies. Other remarkable hardware wallets include KeepKey and Trezor T.
  • HTC has also developed a blockchain smartphone HTC Exodus 1 that secures user’s private keys. This phone is said to offer military-grade security architecture and key management API services.
Anna Larsen
Anna Larsen has been a Crypto enthusiast since 2016. Fascinated by the technology and its usecases she decided to pursue a career in content creation related to this space. The journey has been exciting ever since.

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